Jimmy I feel like you that, personal debt will be next big hit, why I feel that, and why we should get it over with, I explain below.

I have heard from several different honest sources, a consumer credit crash could occur, the most likely times I have heard seem to be end of Q3 and start Q4.

But there are no guarantees, there is an outside chance that some people may actually be trying to pay down their debts, this would reduce the possibility.

Some people think governments can spend their way around it. I honestly doubt they would know how, much less care too.

Personally if it has to happen, and it does seem to, then the sooner the better. It is just no good what so ever to avoid it. After it happens we would really hit rock bottom, then all there would be to focus on is growth. It is virtually impossible to grow an economy while more then half of it focuses on delaying failure. All the effort to delay the mortgage crash just made it worse.

We should have learned from the past, but we do not, so we just repeated it. Let's let 2009 be the year of the crash, so we get it over with instead of dragging it out.

We can pick ourselves up, tighten our belts, dust ourselves off, and get on with rebuilding something new. But to build something solid you need to start on bedrock.

Agreed - that's been the big problem with all of these "stimulus" plans - it's all focused on rewarding bankers, even though the economy is consumer driven. And those consumers are being screwed by debt from the bankers who are now being paid by the government to do so!!

great information! thanks for sharing that.